The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) who purchased shares between June 15, 2020 and April 4, 2021. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Acadia lawsuit alleges that (i) the materials submitted in support of the pimavanserin supplemental new drug application (sDNA) contained statistical and design deficiencies; (ii) accordingly, the pimavanserin sNDA lacked the evidentiary support that the Company had led investors to believe it possessed; (iii) the Food and Drug Administration Agency was unlikely to approve the pimavanserin sNDA in its present form; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until June 21, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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